LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd decreased its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 10.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,353 shares of the financial services provider’s stock after selling 4,516 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd owned 0.05% of LPL Financial worth $8,730,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. V Square Quantitative Management LLC grew its stake in shares of LPL Financial by 9.9% in the third quarter. V Square Quantitative Management LLC now owns 522 shares of the financial services provider’s stock valued at $124,000 after buying an additional 47 shares in the last quarter. Covestor Ltd lifted its position in shares of LPL Financial by 13.6% during the third quarter. Covestor Ltd now owns 417 shares of the financial services provider’s stock worth $99,000 after purchasing an additional 50 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in LPL Financial by 12.5% during the 3rd quarter. First Horizon Advisors Inc. now owns 496 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 55 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in LPL Financial by 2.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 2,588 shares of the financial services provider’s stock worth $563,000 after buying an additional 60 shares in the last quarter. Finally, Lido Advisors LLC boosted its position in LPL Financial by 3.6% in the 3rd quarter. Lido Advisors LLC now owns 1,863 shares of the financial services provider’s stock valued at $443,000 after buying an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Insider Buying and Selling at LPL Financial

In other news, Director Matthew Enyedi sold 1,381 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $256.94, for a total value of $354,834.14. Following the completion of the transaction, the director now owns 8,634 shares of the company’s stock, valued at $2,218,419.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other LPL Financial news, Director Matthew Enyedi sold 1,381 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $256.94, for a total transaction of $354,834.14. Following the sale, the director now directly owns 8,634 shares in the company, valued at approximately $2,218,419.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Dan H. Arnold sold 10,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $256.35, for a total transaction of $2,563,500.00. Following the completion of the transaction, the chief executive officer now owns 137,044 shares of the company’s stock, valued at $35,131,229.40. The disclosure for this sale can be found here. Insiders have sold 60,151 shares of company stock valued at $15,911,088 in the last quarter. Corporate insiders own 1.00% of the company’s stock.

LPL Financial Price Performance

Shares of NASDAQ LPLA opened at $262.59 on Monday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.77 and a quick ratio of 1.77. The firm has a market capitalization of $19.62 billion, a PE ratio of 19.24, a P/E/G ratio of 1.27 and a beta of 0.84. LPL Financial Holdings Inc. has a 1-year low of $179.00 and a 1-year high of $274.35. The business’s fifty day moving average price is $262.88 and its two-hundred day moving average price is $240.90.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, February 1st. The financial services provider reported $3.51 earnings per share for the quarter, topping analysts’ consensus estimates of $3.33 by $0.18. LPL Financial had a net margin of 10.61% and a return on equity of 57.68%. The business had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter last year, the company earned $4.21 EPS. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, research analysts expect that LPL Financial Holdings Inc. will post 15.55 EPS for the current year.

LPL Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Tuesday, March 12th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend was Monday, March 11th. LPL Financial’s dividend payout ratio is currently 8.79%.

Analysts Set New Price Targets

LPLA has been the topic of several recent analyst reports. Barclays boosted their price target on LPL Financial from $302.00 to $312.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Raymond James started coverage on LPL Financial in a research note on Thursday, April 4th. They set an “underperform” rating on the stock. JPMorgan Chase & Co. lifted their target price on LPL Financial from $254.00 to $260.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. JMP Securities lifted their price objective on shares of LPL Financial from $290.00 to $305.00 and gave the stock a “market outperform” rating in a report on Tuesday, April 9th. Finally, UBS Group increased their target price on shares of LPL Financial from $260.00 to $267.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, LPL Financial has a consensus rating of “Hold” and a consensus price target of $268.36.

LPL Financial Company Profile

LPL Financial Holdings Inc, together with its subsidiaries, provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at enterprises in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.